logo
Share SHARE
FONT-SIZE Plus   Neg

Cimarex Energy Prices $750 Mln Of Senior Notes

Cimarex Energy Co. (XEC) said Thursday that it has priced an offering of $750 million aggregate principal amount of senior notes due 2022, which will carry an interest rate of 5.875%.

This was an increase from the company's earlier plan to offer $650 million aggregate principal amount of senior unsecured notes due 2022

The notes were sold to the public at par.

Cimarex plans to use a portion of the net proceeds from the offering to purchase any and all of the outstanding $350 million aggregate principal amount of its 7.125% Senior Notes due 2017, pursuant to a separately announced tender offer and to redeem any of such outstanding notes not acquired in the tender offer.

The company plans to use the remaining net proceeds for general corporate purposes, including repayment of amounts outstanding under its revolving credit facility.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Senate Republicans released a draft of their version of legislation to repeal and replace Obamacare on Thursday, with a vote on the 142-page bill expected as soon as next week. The bill, called the Better Care Reconciliation Act, repeals Obamacare's individual and employer mandates as well as the... A local cable and broadband provider in Texas has filed a lawsuit against Comcast Corp., alleging that the cable giant and its contractors drove it out of business by severing its business cable lines after it rejected Comcast's buyout offer. The lawsuit was filed last week in Harris County, Texas, court by Anthony Luna, owner of Telecom Cable LLC. John Oliver, the host of HBO's Sunday Show "Last Week Tonight," HBO and Time Warner have been sued by coal baron Robert Murray for mocking him and his coal company on the show's most recent episode. Murray had previously sent the show its first cease-and-desist letter.
comments powered by Disqus
Follow RTT